What is the down payment and monthly cost?
Normally, all costs are divided by four. Your initial buying price is 1/4 of the cost of the yacht. You can use cash or leverage a personal loan from a credible banking institution. The monthly operational costs are collected monthly from each owner via automatic debit. These costs include slip fees, insurance, fuel, regular and non-regular maintenance.
Can I finance my Fraction?
Yes, there are various sources for financing. One of those sources is FirstAgain®. FirstAgain loan funds to consumers who buy into fractional programs such as Beneteau Fractional Yachting. For consumers with good credit, you may be able to borrow as much as 100% of your 1/4 share. This means you could be sailing a brand new Beneteau for as little as zero down.
How can I be certain my boat is looked after by others at the same standards I expect?
Beneteau Fractional Yachting provides each owner with the Tools and Rules, so a consistent management standard is maintained. Each owner signs an extensive agreement, which covers almost every eventuality. In addition, many local Beneteau Dealers provide a specifically-designed Special Yacht Concierge Service that regularly maintains and details the yacht.
What happens when something on the yacht breaks or goes wrong?
The iBoat management system alerts your local dealer so the broken item is quickly repaired.
How long do the owners stay together?
The agreement between the owners provides for a 3-year commitment. At the end of the 3 years, the owners sell the boat. Provisions do allow owners to buy each other out, or to collectively decide to keep the yacht.
What happens if another owner wants out, or if I do?
As part of the Ownership Agreement, an owner may sell their position. Additionally, the local Beneteau Dealer and the Beneteau Fractional Yachting website collects many interested parties. Therefore, an owner wishing to sell simply registers their position for sale with these entities.
What is my equity position at the end of the three years?
Though sales prices of used boats can fluctuate widely as they are dependant upon many factors; according to some industry statistics and history, after several years of use, good high quality yachts are typically worth about 75% of the original basic cruise away price. In this case, with a total of four owners, your depreciated amount would be only 6-7%.
How is maintenance handled?
When you own a yacht by yourself, you manage all the maintenance yourself. With Beneteau Fractional Yachting, someone else does the “dirty work.” The Special Yacht Concierge Service provided by your local Beneteau Dealer provides quality and experienced monthly service on your yacht. Neither you nor the other owners need to be concerned with maintenance issues. Even better, all costs are divided by four.
How is the financial management handled?
The Beneteau Fractional Yachting plan takes care of everything. Neither you nor the other owners need to be concerned with who manages the finances. One simple auto debit per owner per month takes care of all the obligations
If there are three other owners, how much time do I really get to use my yacht?
You are guaranteed to be able to reserve your yacht for 7 mornings, 7 afternoons and 7 evenings every four weeks. In essence, that's 21 times per month. You can take them all together or space them out as you please over the four week period. It's completely flexible, and guarantees a satisfactory owner experience.
Is the Beneteau Fractional Ownership Program really for me?
Yes, if you want your dream Beneteau yacht for a fraction of the price. Plus, since you don't use your boat 100% of the time, you lose nothing—and you gain the advantage of having all the management details taken care of for you.
What will be the specifications of my yacht?
The Beneteau Fractional Yachting fleet consists of the luxurious Beneteau line of yachts. Each is equipped with virtually every available amenity that is appropriate to the local conditions. And why not splurge! Since most people skimp on extra amenities to try to save on the purchase price, each extra amenity is only 1/4 of the price with Beneteau Fractional Yachting.
Are there any tax advantages?
Typically, there are very good tax advantages. Please investigate these with your CPA, so that you can receive maximum benefit.
What is the liability to me from another owner using my boat?
The boat is purchased by a corporation and you are a shareholder. This provides a corporate shield for liability purposes.
What if another owner damages the yacht?
Insurance provides for recovery of damages. Additionally, each owner pledges a security deposit against such damages.
This is incredible, why doesn't every one do this?
Beneteau Fractional Yachting, Inc is owned by the prestigious Beneteau Group. It has applied many years of experience in yachting and yacht management to provide a fractional ownership plan that is backed by the experts. Developing a service as advanced as our iBoat software is prohibitive enough for most to properly enter the fractional industry. Additionally, the network of Beneteau Dealers is second to none, which allows you to receive the best concierge service support.
What is the downside?
Well, to be frank, you won't have 100% access to your boat. But then again we doubt anyone using Beneteau Fractional Yachting would need it 100% of the time, so it’s the perfect arrangement.
What is the upside?
You save 75% on the costs. You still get to sail your yacht just as much as you would anyway. Your dealer concierges your yacht. The financial management is taken care of for you. It’s smooth sailing.
How do I get started?
Fill out the form and talk to your local Beneteau Dealer.